Crest Communication plans private placement
Mumbai: Mumbai-based animation and special effects company Crest Communication Ltd. will privately place 1.1 million shares amounting to Rs.12-Rs.13 crore with non-resident Indians, foreign institutional investors and overseas corporate bodies. This will help the company retire high cost debt, improve the debt-equity ratio and boost the bottomline.
Back to News Review index page

Manulife plans issue
Toronto: Manulife Financial Corporation, a Canadian insurance company, is planning to issue 138.3 million shares at C$18 per share, aggregating C$2.48 billion. This works out to 1.5 times the book value and 11 times earnings for the company. The shares are currently traded on the Toronto, Montreal and New York stock exchanges on a when-issued basis. In Asia, trading in the share will begin today.
Back to News Review index page

Steve Ballmer shoots his mouth and the market
Seattle: Microsoft president Steve Ballmer shocked stock markets by saying that technology stocks, including Microsoft, are overvalued. He also said that analysts’ expectations about Microsoft’s revenues continuing to grow at 25 per cent per annum in the future were absurd.

Microsoft has a market capitalisation of over $500 billion and its shares have been showing a growth of 65 per cent annually.
Back to News Review index page